I'm from QC. 2 months ago, after a yer of ignoring their calls and letters, I decided to call the agency directly. He said he was a scotia bank employee but I have the feeling it was the agency. So i told him I could only pay $8k but he wanted more so he started asking me questions about my finances etc, So when he told me if I had a mortgage or rent I told him mortgage. He then told him he was going to speak with his manager to see if they would accept $8k. But I never heard from him again. Not a phone call. Then today, I got a registered letter but I wasnt home so I have to go pick it up tomorrow at the post office. I'm afraid it is the agency or the bank suing me and that they will put a lien on my house.Ii am no longer able to pay the $8k since my mom was going to lend me the money, but she can't anymore.
How does the bank work in terms of collecting their bad debts? And could they or the agency sue me? If the registered letter if them suing me, how long does it take and how does it work? I'm willing to take a payment arrangements to pay it off but in the next 3-4 years or so. Would they accept that? Can I file for bankruptcy even if I own a house? Please help
Read more: Will the Scotia bank or collection agency sue me? I owe around $12 thousand and I stopped paying a year ago
